As the Latinx population in the United States continues to increase, so does the enrollment of Latinx students in higher education. However, the growth in enrollment is not matched with graduation and retention rates due to a general lack of support from the institutions and barriers including experiences of discrimination and struggling with conflicting norms. Additional stressors are experienced by first-generation students (i.e., neither of their parents attended college) and students who experience financial strain. The intersection of financial strain and adhering to the value of familial obligation may also increase feelings of role overload as students try to balance their responsibilities, which may explain variability in mental health and academic outcomes among Latinx students. Moreover, cultural factors associated with ethnic-racial minority individuals such as the value of familism and the development of ethnic-racial identity (ERI) can serve to promote positive development or protect Latinx individuals from negative outcomes. The current study evaluated the association between financial strain and mental health (i.e., depressive symptoms, anxiety) and academic outcomes (i.e., motivation, achievement, expectations, aspirations), respectively, both directly and indirectly via role overload. Familial obligation and ERI were also included in the analysis as moderators of this association. Lastly, the associations between the respective components of familism and the proposed outcomes were analyzed. Analyses were conducted using various multigroup regression models with a sample of 200 Latinx undergraduate students (M[subscript age] = 20.36, 75.5% female) from higher education institutions across the United States. Results indicated that there are differences across first-generation student status regarding the association between financial strain and anxiety. Financial strain was a consistent predictor of role overload, and role overload significantly mediated the association between financial strain and depressive and anxiety symptoms. Academic outcomes remained largely unaffected by any of the predictor variables. Furthermore, the influence of the respective components of familism varied. Familial obligation and ERI were not significant moderators. The findings of the current study have implications for culturally informed practices and policies that would serve to support Latinx students and promote positive well-being and academic outcomes. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]